A platform for sourcing and manufacturing specialty chemicals, Scimplify has raised Rs 59 crore (roughly $7 million) from both new and existing investors in its Series A round.
Based on its regulatory filing with the Registrar of Companies, Scimplify’s board has approved a special resolution to issue 17,514 Series A CCPS at an issue price of Rs 33,676 each, raising Rs 59 crore, or $7 million.
Leading the round with Rs 24.7 crore was Omnivore, followed by 3One4 Capital, Beenext Asia, and Bertelsmann with Rs 13.56 crore, Rs 5.6 crore, and Rs 14.82 crore, in that order.
With the addition of its $3.67 million seed round from 3one4 Capital and Beenext last year, the company has raised about $11 million to date. The data intelligence platform TheKredible states that Scimplify’s post-allotment valuation is approximately Rs 320 crore, or $39 million.
Scimplify is a B2B fulfillment platform that was founded in 2023 by Salil Srivastava and Sachin Santhosh. It serves businesses in the pharmaceutical, personal care, and agrochemical industries, and it operates throughout the whole product life cycle, from contract research to commercial chemical manufacturing.
Emulsifiers, adjuvants, biostimulants, plant growth stimulators, and biofertilizers are among the products offered by the company, according to their website. In May of this year, Atomgrid, a Bengaluru-based startup, raised $1.2 million in a seed round led by Merak Ventures. Covvalent, a significant participant in the field, raised $4.3 million under the direction of Nexus Venture Partners.
